To ensure the efficiency of the World Bank's governance and anti-corruption strategy Chinese Minister of Finance Jin Renqing yesterday outlined a framework of six principles.

Jin said at the 74th World Bank Development Committee meeting that the bank's ability to substantively accomplish its governance and anti-corruption goals hinged on whether the right strategy and approach were in place.

In his speech Jin said the World Bank should abide by the principle of non-politicization, stick to development as their core mission and respect the countries they were working with. He also called on the organization to evaluate its governance against results on the ground.

"The effectiveness of the bank's governance strategy will have to be evaluated and tested based on its actual contribution to a country's economic development, social stability and improvement in people's livelihoods," said Jin.

Other principles included focusing on areas where the bank had a comparative advantage and could lead by example, Jin observed. 

He also urged the World Bank to strengthen engagement with the International Bank for Reconstruction and Development partner countries. Jin termed this "an issue of strategic importance." He said, "This is essential for the bank to effectively fulfill its mandate of promoting global development."

Jin also called on the international community to push for substantial progress to ensure global energy availability and to halt climate change.

The Development Committee, the World Bank's policy-setting body, held its 74th meeting in Singapore yesterday. Participants focused on topics such as governance, anti-corruption and the bank's relationship with donors.

(China Daily September 19, 2006)